What is a tax levy? The IRS using its authority gain possession of a taxpayer's property without going to court. A tax levy could take cash from your bank account (regular levy) or take your wages or routine paid commissions (continuous levy).
Can the IRS take my house? Yes, but only in the most rare, egregious situations.
Can the IRS just levy me without telling me? No. The IRS is required to make a notice and demand for payment. The IRS will also send via certified mail a Final Notice with Intent to Levy and give the taxpayer 30 days to respond with a right to a hearing. The challenge is if the taxpayer ignores these notices.
How do you prevent a tax levy? (1) Communicate with the IRS. Open your mail from the IRS and do not ignore them. No one should get levied. If you get levied, it is because there is breakdown in communication between the IRS and yourself. (2) Get into compliance. What is compliance? Filing your tax returns and being current on your tax estimates. (3) Propose your tax resolution to the IRS. Taxpayers have many options with resolving tax problems: installment agreements (payment plans), Offer-in-Compromises, uncollectible status. Work out an arrangement with the IRS that will stop the tax levy.
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